By James Atkinson
Carlton & United Brewers' lager volumes declined by eight per cent in the last quarter, according to a trading update issued by parent company SABMiller overnight.
In an interim management statement for the first quarter ended June 30, SABMiller said the Australian lager industry continued to be affected by the loss of market share to other alcoholic beverages together with subdued consumer sentiment, leading to a significant reduction in volumes.
"Excluding the effect of the termination of some licensed brands and an increase in trade stock levels in the corresponding period of the prior year, CUB lager volumes declined by eight per cent in the quarter, marginally behind the market," SABMiller said.
"In total, including these effects, CUB lager volumes were down 13 per cent on a pro forma basis."
But SABMiller said it is making good progress with "synergy delivery" and with plans to strengthen CUB's brand equities and retail engagement.
Foster's spokespersons were unavailable.